A halfcrown is a 2 shillings and 6 pence coin. At the end of World War II saw the price of silver which had been 24 pence an ounce in 1939 risen to 55.5 pence (the London controlled price) apparently with none available. The free suppliers price at the time was 70 pence and even there supplies were very limited. In addition the UK government was under obligation to repay in kind 88,000,000 ounces to the USA obtained during the War. It was therefore decided to abandon silver for circulating coinage and substitute a cupro-nickel alloy. The first coins made with the new alloy were struck in 1947. This coin is a proof-of-record strike of the new coinage.